The 65-year-old knows who will line-up against Oleg Blokhin's side, indicating that Gary Cahill or Phil Jagielka will come in for the Chelsea man in his only planned change
The Three Lions beat Moldova 5-0 in their first fixture on the road to Brazil 2014 on Friday, but the former West Brom boss was dealt a blow when the Chelsea centre-half picked up an ankle knock that rules him out of their next tie.
The injury leaves Everton's Jagielka and Terry's Blues team-mate to battle it out for the remaining centre-back slot alongside Joleon Lescott.
"They're both good players so it's obviously a tight decision," Hodgson told reporters. "Whichever player I choose, I'd be happy that the team is well covered in John's absence.
"It's actually quite a nice position to be in when you've got two good players and you trust them both and you think they're both good enough.
"It's just up to me to choose the one that I think will be the best player for this particular match. I've done it but I haven't spoken to the players so i don't want to announce the decision until [then]."
Hodgson indicated that the remaining 10 players will be the same that started in Moldova, explaining that their efficient performance means no changes are required.
The Croydon-born coach added: "I thought the team was excellent against Moldova both offensively and defensively, I don't see any reason for making any changes in the team apart from the one that's been forced upon us.
"We will be playing with the same players, as long as nothing else untoward happens between now and kickoff, and John Terry's position will be taken by one of Phil Jagielka or Gary Cahill".